Disability Insurance – Open Mind http://open-mind.org/ Mon, 19 Jul 2021 01:43:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://open-mind.org/wp-content/uploads/2021/06/icon-6-150x150.png Disability Insurance – Open Mind http://open-mind.org/ 32 32 Returning to work is not easy for some who have lost their jobs to COVID https://open-mind.org/returning-to-work-is-not-easy-for-some-who-have-lost-their-jobs-to-covid/ https://open-mind.org/returning-to-work-is-not-easy-for-some-who-have-lost-their-jobs-to-covid/#respond Sun, 18 Jul 2021 20:42:05 +0000 https://open-mind.org/returning-to-work-is-not-easy-for-some-who-have-lost-their-jobs-to-covid/ MILWAUKEE – Karen Miller wants to work. Ideally, the 65-year-old will return to her old job digitizing government documents for Data Dimensions in Janesville, Wisconsin. But she can’t. The company fired her in March 2020 when COVID-19 struck and later laid off more than 100 employees after she lost a contract. As required by the […]]]>


Karen Miller wants to work.

Ideally, the 65-year-old will return to her old job digitizing government documents for Data Dimensions in Janesville, Wisconsin. But she can’t. The company fired her in March 2020 when COVID-19 struck and later laid off more than 100 employees after she lost a contract.

As required by the state, Miller has been “looking for work” at least four times a week since May in order to continue receiving the state’s highest level of unemployment benefits: $ 370 per week plus whatever the federal government intervenes. She would look for jobs regardless of the regulations. she said, although heart disease limits her options.

However, she said that entering her criteria into the job search only returns offers for jobs she cannot do, including physically demanding warehouse and delivery jobs and positions for occupations that require a license that she lacks.

The search yielded a few clues and interviews, but no jobs. She suspects that her age has something to do with it.

In the earlier months of the pandemic, Wisconsin lawmakers by and large championed suddenly unemployed workers like Miller – even when Republicans and Democrats blamed each other for an unemployment insurance system drowned in a deluge of claims.

When the Department of Workforce Development struggled to process applications last year, Miller waited 11 weeks for her first unemployment check. This forced them to spend their savings and tap into social security early on – and permanently reduce their monthly payments.

But few stories like Miller’s are circulating in media coverage of the late pandemic economy – as vaccinations allow businesses to reopen and their frantic search for workers is in the spotlight.

More than two dozen states prematurely ended a federal program that adds $ 300 to weekly unemployment checks to help recipients weather unemployment during the pandemic. Legislators in these states, and some business owners, claim that the additional benefits due to phase out nationwide as early as September are taking away the motivation for people to look for work.

Wisconsin’s Republican-controlled legislature is also seeking an early end to the additional payments, with convention spokesman Robin Vos calling the program a “deterrent to work” causing “mischief” among the unemployed. Legislators approved a bill to end the program, but Evers vetoed it, saying proponents lacked evidence that it would alleviate labor shortages.

Miller overhears politicians changing their descriptions of the unemployed.

A

(Photo by Mario Tama / Getty Images)

“We’re not a bunch of lazy people,” she said. “We were workers who lost our jobs and are now being asked to do things we have no experience of.”

Miller was one of 10 people who spoke to WPR and Wisconsin Watch about rebuilding their lives after losing their jobs during the pandemic. Thirteen others contacted WPR’s WHYsconsin project with questions about access to overdue unemployment benefits and reported struggles for work; they either did not respond to inquiries or refused to be interviewed because they still stigmatized the unemployed.

The interviews illustrate persistent challenges and difficult choices in reintegration into work. Some are still waiting for the state to pay unemployment benefits since the earliest days of the pandemic.

While waiting for unemployment benefits last year, Miller feared she would lose the Rockford, Illinois home that she shares with her 38-year-old son and 18-year-old grandson.

Miller and her son previously worked across the border in Janesville. So they turned to the Wisconsin DWD, which processes jobless claims after the pandemic left both of them unemployed. But Miller and her son – who waited 13 weeks for his compensation – were among the thousands who waited months or more for DWD.

Concerned about her mortgage, Miller filed for a federal pandemic program that allowed most homeowners to defer payments for up to 18 months with no penalty – just in case they needed it. Instead, the Millers stayed up to date on the mortgage by using up their $ 10,000 savings while waiting for unemployment benefits.

Miller also saved about $ 120 a month in car payments by selling her 2014 Kia ​​Soul back to the dealership and another, less fancy Soul lease. But money remained tight when she turned 65 in September, even after receiving unemployment benefits. So she guessed social security.

Every bit of income has helped the family make ends meet, including government unemployment benefits and stimulus payments. These and other guidelines – including federal and state eviction moratoriums – have benefited Americans deeply from the pandemic. Analysis of data from the University of Michigan’s US Census Bureau found that federal pandemic aid has helped large swaths of Americans stave off hunger, anxiety, and depression.

working woman

U.S. employers created 850,000 jobs in June, and many came with higher wages, particularly in the leisure and hospitality sectors. Still, the country has 6.8 million fewer jobs compared to February 2020, before the pandemic crippled much of the economy.

“We’re reaching the point where vaccinations are widespread and people are comfortable going out into the world again,” said Julia Raifman, assistant professor at Boston University and lead investigator on the COVID-19 US State Policy Database. “I think it’s really important for people (with pandemic support) to hold out until they can connect to jobs that are good over the long term.”

Economists have mixed views on whether the recent federal unemployment benefits are a significant barrier to work. And research by Indeed Hiring Lab found that last May, job searches – as measured by clicks on job postings – increased temporarily and only slightly in states that announced premature endings. It cites evidence that job hunting has returned to normal on the eighth day after the announcements.

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Meanwhile, search activity has increased in some states that opted out of extended benefits in June and declined in others – in some cases below national trends, Indeed reported in late June.

After Jay Baukin, 63, lost two months of work at the beginning of the pandemic, Goodwill hired him back to his part-time position in June 2020, but it took the DWD more than a year to provide unemployment benefits. Baukin, who suffered a traumatic brain injury in a car accident 18 years ago, is partly dependent on the benefits of the federal social insurance disability insurance. But the monthly checks of roughly $ 1,500 don’t completely cover his bills in Dane County. Baukin described his wages from a 24-hour week as “essential” for survival.

“Otherwise I’d be on the corner with a sign that said, ‘I work for food,'” he said.

Unlike most states, Wisconsin bans federally disabled workers from receiving regular unemployment benefits, and the DWD first extended that ban to PUAs before reversing course last summer. Baukin spent a year seeking this compensation.

In May 2021, a state administration judge finally ruled in his favor, but Baukin says it took more than a month to see aid; He was told that the DWD had not loaded the judge’s recordings into his outdated computer system, which increased the waiting time. He stopped checking his online portal with the department out of frustration, so it was two weeks before he realized he had been paid.

Pierre Young, 51, of Milwaukee struggles to pay rent after losing his part-time job at the warehouse and being denied unemployment benefits. His state disability status torpedoed his regular entitlement, and he lost the PUA after being told he hadn’t filed his payrolls quickly enough. He appealed the decision but sold his two trucks to pay bills while he waited. The 1998 Chevy Tahoe and 2002 Dodge Ram pickup – “a bat with a heater” – fetched about $ 800 together.

But Young’s newfound lack of transportation limits his job opportunities and makes it difficult to get an interview at all, he said. He would love to take a 12 week construction job he found, but getting to the construction site in Iowa was impossible.

(Photo by OLIVIER DOULIERY / AFP via Getty Images)

A conviction for a crime on his file – a barrier to many Wisconsinites – will likely further harm his search, Young said, but “my lack of a vehicle is really what gets me in a box.”

“I have to have a roof over my head,” he added. “So I had no choice but to sell the vehicle, you know?”

Across the border in Rockford, Miller said she would take any job she can do.

“I would be willing to work only for the minimum wage,” Miller said. “I have my social security. But I have to supplement it. It is not enough for a living.”

___

Wisconsin Watch, a nonprofit news agency, made this article available to The Associated Press in collaboration with the Institute for Nonprofit News.

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Northwestern Mutual Lifer prides itself on succession clarity amid the age crisis of wealth management https://open-mind.org/northwestern-mutual-lifer-prides-itself-on-succession-clarity-amid-the-age-crisis-of-wealth-management/ https://open-mind.org/northwestern-mutual-lifer-prides-itself-on-succession-clarity-amid-the-age-crisis-of-wealth-management/#respond Sun, 18 Jul 2021 13:30:00 +0000 https://open-mind.org/northwestern-mutual-lifer-prides-itself-on-succession-clarity-amid-the-age-crisis-of-wealth-management/ Tom Sanczyk, Wealth Management Advisor, The Sanczyk Group, Northwestern Mutual Northwest Reciprocity Surname: Tom Sanczyk Celebrations: Northwestern Mutual Wealth Management Place: Morristown, New Jersey AUM: $ 460 million Forbes rankings: Best-in-state investment advisor Background: Sanczyk, 56, has spent his entire three decades at Northwestern Mutual. Growing up, his father had an accident while working for […]]]>


Surname: Tom Sanczyk

Celebrations: Northwestern Mutual Wealth Management

Place: Morristown, New Jersey

AUM: $ 460 million

Forbes rankings: Best-in-state investment advisor

Background: Sanczyk, 56, has spent his entire three decades at Northwestern Mutual. Growing up, his father had an accident while working for the railroad, which prompted his family to get away with a disability plan in what he described as an underserved community government.

In college, at Rowan University in New Jersey, he met some new Northwestern Mutual recruits, whose footsteps he followed after graduating a few years after his father died of cancer.

Investment philosophy / strategy: Sanczyk supports Northwestern Mutual’s significant insurance business, facilitating necessary but difficult discussions about wills, trusts and estate planning, and life and disability insurance.

“There is so much more than just the return on investment when it comes to achieving a successful outcome for a client and their family,” he says.

Competitive advantage: While asset management is grappling with the rising average age of the advisory community, Sanczyk prides himself on his company’s succession planning. His son Steven Sanczyk, along with another young employee, Shail Shah, will take over his books when he retires.

“Our competitive advantage is our succession plan,” he adds. “A lot of consultants are trying to figure out how to monetize their practices, and we’re trying to put together a succession plan so clients have continuity.”

Biggest challenge: There was a lot of fighting during Covid, but the virtual work allowed Sanczyk and his team to talk to more customers every day and be extremely efficient, he says. While happy to see customers in person, he worries that the extra time and travel required will affect this efficiency.

Mentors: His two greatest mentors were the aforementioned college classmates who helped him get in the door at Northwestern Mutual about 30 years ago. Andy and Scott Schwartz both left Northwestern Mutual and now work for New Jersey-based Bleakley Financial Group. He also mentions her colleague and top Forbes / SHOOK advisor, Rick Wright, as a key mentor.

What keeps you up at night: While working in finance and spending a lot of time and effort on his own financial condition, Sanczyk wakes up at night thinking about his health. Having just celebrated his 30th wedding anniversary, he hopes to take care of himself well enough to reach his 60th wedding anniversary.

Favorite book / film: Sanczyk was inspired by the movie “The Pursuit of Happyness”, in which Will Smith stars in the true dishwashing story of the former homeless businessman and motivational speaker Chris Gardner. He’s also a fan of the hugely popular “Principles” by Bridgewater Associates founder Ray Dalio.



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TV advertising campaign seeks change for people with a disability over 65 https://open-mind.org/tv-advertising-campaign-seeks-change-for-people-with-a-disability-over-65/ https://open-mind.org/tv-advertising-campaign-seeks-change-for-people-with-a-disability-over-65/#respond Sat, 17 Jul 2021 13:30:00 +0000 https://open-mind.org/tv-advertising-campaign-seeks-change-for-people-with-a-disability-over-65/ Spinal Life Australia – supported by other disability groups such as Polio Australia and Muscular Dystrophy Foundation Australia – has launched a TV advertising campaign calling on the federal government to end age discrimination against people with a disability over 65. It is said that a person over 65 who has a spinal cord injury […]]]>


Spinal Life Australia – supported by other disability groups such as Polio Australia and Muscular Dystrophy Foundation Australia – has launched a TV advertising campaign calling on the federal government to end age discrimination against people with a disability over 65.

It is said that a person over 65 who has a spinal cord injury will receive $ 52,000 a year under My Aged Care, compared to $ 165,600 under NDIS.

The campaign comes amid warnings from NDIS Minister Linda Reynolds that the program is facing serious sustainability issues, with spending rising to $ 40.7 billion in 2024-25, $ 8.8 billion above estimates .

Senator Reynolds said the draft program reflected the Productivity Commission’s recommendation that an individual must have acquired their disability and apply for access to the program before age 65 in order to become an NDIS participant.

“Legislation tabled by the Gillard government in 2012 to set up the NDIS with bipartisan support reflects the recommendation of the Productivity Commission,” she said Age and The Sydney Morning Herald.

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“The government supports these longstanding political attitudes. The NDIS is not intended to replace the services already provided in the health or elderly care system. “

The Productivity Commission also recommended the establishment of a separate national accident insurance scheme that would be state funded and that would cover catastrophically injured people. This would reduce the cost of the NDIS, but has not yet been fully implemented.

Senator Reynolds did not reply when asked if the government charged any costs for the 65-year-old age waiver.

Last year Richard Colbeck, the Minister for Elderly Australians and Elderly Care Services, told ABC TV 7.30 it wasn’t a research piece he’d seen.

Given that 1.9 million Australians are over 65 years old and have a disability according to the Australian Bureau of Statistics, and the average payment to NDIS participants over the 2020-2021 period was $ 53,200, removing the age limit would make the program billions costs.

(The 1.9 million figure includes people with disabilities who were NDIS participants before they turned 65 and can stay on the program.)

Elizabeth Kendall, professor of disability at Griffith University, said the cost of lifting the age limit must be offset against the cost of care for the elderly.

“As you age, the effects of disability can become more severe and the effects of inadequate or inadequate care can lead to more expensive hospitalizations for urinary tract infections, skin problems, breathing problems, etc.,” she said.

“It can also mean an earlier transition to inpatient elderly care, which is much more expensive.”

Last year’s Royal Commission on Elderly Care recommended that by July 1, 2024, every person living with a disability and living in elderly care – regardless of when they enter – should receive the same level of support that they would have under the NDIS .

“It is a question of justice,” read the report from the royal commission.

In its May response, the federal government said that the recommendation would be considered further, with work on developing a new home support program to be completed by the end of next year.

The government said it will consider the level of support available to people in elderly care, including those who would otherwise be eligible for NDIS without the age criteria.

The “Disability Does Not Discriminate” campaign calls on people to write to their federal MPs asking them to lift the age limit for the NDIS or to accept the recommendation of the royal commission.

Mark Townend, CEO of Spinal Life, said in a few months the campaign will be asking all MPs where they stand.

In 2019, the independent MP Zali Steggall submitted a petition to parliament with almost 20,000 signatures calling on the government to expand the NDIS beyond 65 or to improve the elderly care system.

Opposition NDIS spokesman Bill Shorten said that when the NDIS was formed, the elderly care system offered much greater support, so the NDIS fills the void for people with disabilities under 65.

“But after eight years of neglect of elderly care by the coalition, NDIS – although it has its problems – is now superior to elderly care packages,” he said.

“Labor believes that no matter how old they are, people should get the care they need.”

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Alleged disability fraud foiled by the California Department of Insurance Detectives https://open-mind.org/alleged-disability-fraud-foiled-by-the-california-department-of-insurance-detectives/ https://open-mind.org/alleged-disability-fraud-foiled-by-the-california-department-of-insurance-detectives/#respond Fri, 16 Jul 2021 21:46:22 +0000 https://open-mind.org/alleged-disability-fraud-foiled-by-the-california-department-of-insurance-detectives/ Pest control in Sacramento charged with fraud and large-scale theft July 16, 2021 – SACRAMENTO, Calif. – John Swank, 58, was charged with multiple insurance fraud and aggravated theft after claiming he was too sick to work while being redundant $ 60,000 in disability insurance payments that he was not entitled to because he started […]]]>


Pest control in Sacramento charged with fraud and large-scale theft

July 16, 2021 – SACRAMENTO, Calif. – John Swank, 58, was charged with multiple insurance fraud and aggravated theft after claiming he was too sick to work while being redundant $ 60,000 in disability insurance payments that he was not entitled to because he started working for other employers. The alleged fraud was exposed by Department of Insurance detectives who want to protect both consumers and businesses from false claims and fraudulent practices.

In April 2015, Swank, an avian specialist with a local pest control company, filed disability claims with his employer for bowel and heart problems. The Long Term Disability (LTD) policy that Swank had acquired through his employer a year earlier to cover illness or injury unrelated to work stated that a beneficiary who was disabled and employed would receive a weekly payment would receive his weekly disability income if all were less than 20 percent of their weekly income. The policy also said that LTD payments would stop the day the disability income exceeds the amount allowed under the plan.

Swank collected LTD payments totaling approximately $ 105,800 from June 2015 to July 2019.

An investigation by the California Department of Insurance found in November 2018 that Swank had not returned to work in a disability status update to his employer’s insurance company processing his claim. However, the investigation found that Swank had worked for several different pest control companies between January 2017 and 2020, which resulted in him receiving $ 63,387 in disability payments that he was not entitled to.

Swank’s original employer insurance sent him a rejection letter stating that he would no longer be eligible for LTD payments due to his return to work on January 6, 2017, as his income was higher than the policy allowed.

Swank surrendered to Sacramento County’s Main Prison and was charged on July 15, 2021. The Sacramento District Attorney’s Office is pursuing this case.

Source: CA. Insurance department



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NDIS algorithms and King Henry VIII forces https://open-mind.org/ndis-algorithms-and-king-henry-viii-forces/ https://open-mind.org/ndis-algorithms-and-king-henry-viii-forces/#respond Thu, 15 Jul 2021 07:37:34 +0000 https://open-mind.org/ndis-algorithms-and-king-henry-viii-forces/ The political rejection of The changes proposed by the Commonwealth to the National Disability Insurance System by all states and territories were far more than a routine federal stockpile. What exploded on Friday July 9th was an episode of the conjunction of two extremely powerful forces – algorithms and King Henry VIII forces – each […]]]>


The political rejection of The changes proposed by the Commonwealth to the National Disability Insurance System by all states and territories were far more than a routine federal stockpile.

What exploded on Friday July 9th was an episode of the conjunction of two extremely powerful forces – algorithms and King Henry VIII forces – each of which individually obliterates transparency and accountability.

“King Henry VIII Clauses” are so named because of the uncontrolled power they contain.

Combined, the effects of King Henry VIII’s algorithms and powers on Australian citizens are unfathomable. These two forces are eating up our democracy.

Marie Johnson on the NDIS blow-up for independent reviews

What exploded was not a struggle for “reform”.

You see, the community of people with disabilities desperately wants reform: after all, the NDIS was founded by the community. But reform is necessary because the NDIS has either been accidentally or deliberately diverted from its intended purpose.

And the community may only know a thing or two about where exactly this reform is needed.

More than 300 submissions for the Senate investigation into independent expert opinions provide brilliant insights for the reform. And in countless submissions to a great many inquiries about the NDIS during its short eight-year lifespan. The reform path is hidden in sight.

Fixated on the deceptive doctrine that everything can be automated – even apparently people’s lives and bad processes – the government’s “audio theater” does not “hear” the universal calls for participation, while it goes back selectively to experts and elements of strategic reports original 2011 Productivity Commission report.

What I and hundreds of thousands of disabled people and their families want to know is:

  • Why does it take a year to change bank details?
  • Why does child wheelchair approval take two years – a quarter of the time the NDIS has existed?
  • Why do sensitive reports and documents that are sent to the NDIA keep getting lost?
  • Why are we receiving plans that contain other people’s highly confidential information?
  • Why did NDIS plans fund $ 2.02 for two years (this is not a typo)?
  • And why did people receive multiple spam-like text messages during the Independent Review Campaign, often containing other people’s private information?

This is done by chaining unmonitored mailboxes; no intelligent workflow; Process dead ends; Manual manipulation of data and documents outside the system; Metastatic off-system databases; passing around spreadsheets; and a grotesquely complex website that mocks any notion of accessibility and inclusion.

The fact that this is done so systemically is proof of faulty systems and processes at their core.

And defective algorithms are glued to these defective systems.

Algorithms based on 400 personas that have not been co-developed, questioned, validated or apparently tested. This is similar to an algorithm designed to detect cancer through scans without the process and algorithm having been validated by cancer experts.

Algorithms based on a mash-up of operability assessment tools for which NDIA has not provided the Senate Committee with evidence of the validity and safety of those tools when used together.

Algorithms that the Senate estimates appear to have been developed without an ethical framework.

And as a warning of what could possibly go wrong, the terrible examples of algorithmic funding valuation models used in the United States read like a template for independent NDIS valuations.

The US Algorithmic Funding Assessments “Hit Low-Income Seniors and People with Disabilities in Pennsylvania, Iowa, New York, Maryland, New Jersey, Arkansas, and Other States After Algorithms Became Referees – Replacing Judgments” . that used to be done mainly by nurses and social workers. “

In Arkansas, “you had people laying in their own trash. There were people who got sores because no one was there to heal them. There were people who got jailed, people who skipped meals. It was simply unpredictable human suffering. “

The risk of algorithms for human rights, especially for people with disabilities, is so serious that Australian Human Rights Commissioner Edward Santow raised concerns about the NDIS robo-planning push.

“I am very aware that in turning to independent valuations in the NDIA there is a risk that some of the mistakes that have been made about robo-debt could be made again in this context.”

This follows the groundbreaking Human Rights and Technology Report by the Australian Commission on Human Rights, which calls for a moratorium on the use of algorithms in decision-making.

But the algorithm genius is out of the bottle, especially as an accompaniment to the “god-like” powers of King Henry VIII – which in the leaked NDIS bill remove the veto power of the governments of states and territories. The same state and territorial governments that co-fund the program.

In an article in The Saturday Paper, Rick Moreton stated that King Henry VIII’s powers give the Commonwealth Minister a new way of “making so-called” rules “at all times that the National Disability Insurance Agency’s chief executive officer must follow the interpretation of the law. “

These “god-like” powers, which set rules that do not require parliamentary scrutiny, are carried out using opaque algorithms and not checked by technical experts.

Indeed, a god-like power developing an algorithm-driven funding valuation model that has been shown to harm people.

So the explosive meeting of disability ministers was not just about NDIS reform.

It was about the Commonwealth’s hidden agenda of creating a new architecture of automation and control that encompasses all service sectors: disability, veterans, elderly care, education and beyond. The NDIS has long been the stalking horse of this disturbing future.

Australian civil society and bureaucracy are tragically ill-equipped for the age of algorithms.

And the government of King Henry VIII wants to grant itself the rights and abilities of the citizens to protect themselves against this dystopian, machine-controlled future.

Do you know more? Contact James Riley via email or Signal.



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Horace Mann to acquire Madison National Life from IHC in a $ 172.5 million transaction https://open-mind.org/horace-mann-to-acquire-madison-national-life-from-ihc-in-a-172-5-million-transaction/ https://open-mind.org/horace-mann-to-acquire-madison-national-life-from-ihc-in-a-172-5-million-transaction/#respond Wed, 14 Jul 2021 12:00:00 +0000 https://open-mind.org/horace-mann-to-acquire-madison-national-life-from-ihc-in-a-172-5-million-transaction/ Orientation towards the education market Adding a new suite of employer-sponsored performance products and a new independent performance broker distribution for K-12 school districts Earnings per share from this transaction are expected to be in the mid-single digits in 2022, contributing approximately 50 basis points to ROE Management will host a conference call today at […]]]>


Orientation towards the education market

  • Adding a new suite of employer-sponsored performance products and a new independent performance broker distribution for K-12 school districts

  • Earnings per share from this transaction are expected to be in the mid-single digits in 2022, contributing approximately 50 basis points to ROE

  • Management will host a conference call today at 9:00 a.m. ET to discuss the transaction

SPRINGFIELD, Ill. July 14, 2021– (BUSINESS WIRE) – Horace Mann Educators Corporation (NYSE: HMN) announced today that it has signed a definitive agreement to acquire Madison National Life Insurance Company, a subsidiary of Independence Holding Company (NYSE: IHC). Madison National is a leading writer of employer-paid and sponsored benefits made available to educators in K-12 school districts. The transaction is expected to close early in the first quarter of 2022, subject to regulatory approval and other customary closing conditions.

Madison National, headquartered in Madison, Wisconsin, offers short- and long-term group disability, group life and other products, with K-12 school districts accounting for 80% of premiums in 2020. Horace Mann also has a long-term distribution agreement with National Insurance Services (NIS), a key distribution partner of Madison National for nearly 40 years. NIS is an AssuredPartners company providing employee benefit solutions exclusively to K-12 schools and other public sector organizations. In 2020, Madison National’s net premiums were approximately $ 108 million and statutory revenues were approximately $ 14 million. Madison National is rated A- u (Excellent) by AM Best & Co.

“The acquisition of Madison National has an immediate positive impact on EPS and ROE. The transaction accelerates our progress on all fronts of our multi-year strategic plan: strengthening our product offerings, improving our sales and expanding our infrastructure. This will ultimately help us achieve our long-term goals Achieve sustainable double-digit ROE and significant growth in the education market, “said Marita Zuraitis, President and CEO of Horace Mann. “We’re excited to add the distribution that will enable us to help every employee in a district with employer-sponsored solutions designed to help districts attract and retain good teachers. This comes at a time when districts are increasingly looking for broader benefits for educators.

“We can continue to build a track record of using capital to create value for our shareholders. This transaction, combined with the acquisition of NTA in 2019, strengthens our position in the education market,” said Zuraitis. “With Madison National, Horace Mann can serve K-12 educators through a new sales channel that fully complements Horace Mann’s strengths in individual products sold through local, trusted advisors. Regardless of whether educators contact Horace Mann through ours Working together with existing channels, or benefiting from employer-sponsored coverage of their district employers, we will provide the solutions to protect what educators have today and help them prepare for a prosperous future. “

“With 60 years of experience, Madison National today delivers flexible, scalable solutions for school districts through a modern, easy-to-use platform,” said Bob Stubbe, senior executive, Madison National. “We look forward to working with Horace Mann to continue serving the education market with financial solutions that meet the needs of school districts and educators.”

Terms of the transaction

Under the terms of the transaction, Horace Mann will acquire Madison National for $ 172.5 million. The transaction has been approved by the Horace Mann and IHC boards of directors and is expected to close early in the first quarter of 2022, subject to regulatory approval and other customary closing conditions. Upon completion, Madison National will operate as a wholly owned subsidiary of Horace Mann Educators Corporation. IHC will have a potential earnout of up to $ 12.5 million, payable in cash if the financial targets set are met by the end of 2023.

In the 12 months following closing, the transaction is expected to add approximately $ 7 to $ 9 million, or $ 0.15 to $ 0.20 per share, to Horace Mann’s earnings, which is the return on equity excluding net unrealized gains and losses on investments with a fixed term increased by around 50 basis points. These contributions include the impact of the amortization of intangible assets and one-off items related to the transaction, as well as modest assumptions regarding the repositioning of Madison National’s investment portfolio and additional operating expenses.

The transaction will be funded with cash and additional loans from the company’s revolving credit facility, which will be extended through 2026 and expanded by $ 100 million to $ 325 million to provide sufficient liquidity. At closing, Horace Mann’s leverage ratio is expected to be just under 25%, which is in line with the company’s current financial strength ratings. The company will target RBCs of 425% for life and retirement subsidiaries and 400% for property and casualty subsidiaries by year-end.

In addition, Horace Mann has signed a long-term distribution agreement with NIS that will take effect at the same time as the Madison National transaction is closed. NIS is a subsidiary of AssuredPartners, Inc., one of the largest insurance brokers in the United States. The agreement includes short and long term group disability, group life and group supplement products.

Consultant

Raymond James & Associates is acting as financial advisor to Horace Mann and Eversheds Sutherland (US) LLP is acting as legal advisor to Horace Mann.

Investor Conference Call / Webcast

Horace Mann will host a conference call today at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the transaction. The conference call will be accessible via the events area of ​​investoren.horacemann.com and by telephone. The conference call dial-in number is 844-735-3325. To listen to the webcast, register via the events area of ​​investor.horacemann.com. A recording of the call will be available online at the same location.

About Horace Mann Educators Corporation

Horace Mann Educators Corporation (NYSE: HMN) is the largest financial services company focused on delivering insurance and retirement solutions to America’s educators and school staff. Founded by educators for educators® [In1945thecompanyisheadquarteredinSpringfieldIllinoisFormoreinformationvisitwwwhoracemanncom[1945hatdasUnternehmenseinenHauptsitzinSpringfieldIllinoisWeitereInformationenfindenSieunterwwwhoracemanncom

About the IHC group

Established in 1980, Independence Holding Company (NYSE: IHC) is a holding company primarily engaged in the underwriting, administration and / or distribution of group and individual specialty products, including disability, supplementary health, pet and group life insurance, through its subsidiaries (Independence Holding Company and its subsidiaries collectively referred to as “The IHC Group”). The IHC Group consists of three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company).

Safe Harbor Statement

Statements made in this press release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties. Horace Mann undertakes no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. Please see the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, as well as the company’s past and future filings and reports filed at The Securities and Exchange Commission have requested information about important factors that could cause actual results to differ materially from those expressed in any forward-looking statements.

No offer or solicitation

This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to subscribe or to buy, or a solicitation of an offer to buy or subscribe for securities, or a solicitation of a vote or approval in any jurisdiction for the acquisition of the Merger or otherwise, nor any sale, issue or transfer of any securities in any jurisdiction in violation of any applicable law. Securities may only be offered in accordance with the Securities Act of 1933, as amended, and other applicable laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210714005479/en/

contacts

Heather J. Wietzel, Vice President, Investor Relations
217-788-5144 | investorrelations@horacemann.com



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Gremaux elected next East Noble Superintendent | News So https://open-mind.org/gremaux-elected-next-east-noble-superintendent-news-so/ https://open-mind.org/gremaux-elected-next-east-noble-superintendent-news-so/#respond Mon, 12 Jul 2021 22:30:00 +0000 https://open-mind.org/gremaux-elected-next-east-noble-superintendent-news-so/ KENDALLVILLE – East Noble’s new Superintendent has lived in Noble County for six years, but now she brings her teaching skills closer to home too. On Monday, the school board announced Teresa Gremaux as East Noble’s next superintendent, the culmination of a search launched after former superintendent Ann Linson announced her resignation in March. Rome […]]]>


KENDALLVILLE – East Noble’s new Superintendent has lived in Noble County for six years, but now she brings her teaching skills closer to home too.

On Monday, the school board announced Teresa Gremaux as East Noble’s next superintendent, the culmination of a search launched after former superintendent Ann Linson announced her resignation in March.

Rome City’s Gremaux is making her third superintendent stop in the last six years when she takes over the helm of East Noble.

She began serving on the district leadership of North White School Corp. for four years. in White County, rural northwest Indiana, before she left that position at the end of the 2019 school year. She then moved to the Manchester Community, where she headed the North Manchester district for the past two years.

She commuted back and forth between her home and work for about an hour, and when the position opened in East Noble was a shorter drive time combined with a chance to take on an excellent district like East Noble and to her roots in the northeast of Returning to Indiana is all too good to miss a lot, Gremaux said after Monday’s meeting.

East Noble is a step up from these two smaller school districts. With around 3,500 students, East Noble is significantly larger than Manchester Community with around 1,400 students and North White with around 850.

But Gremaux is no stranger to larger counties either, as she began her career at the East Allen County Schools.

Gremaux was an elementary school teacher at Southwick Elementary School in Fort Wayne for five years before becoming director there for six years. The district then asked her to take on a role as headmistress at Paul Harding Junior High School, where she helped turn the building around.

“They were really having problems and asked me to go and see if I could do something about their results,” said Gremaux. “We went from F to B in two years so I was really excited.”

At the time, she was pursuing her doctorate and superintendent license with no real plans to join the district leadership, but life soon took her west to North White before returning here to Kendallville.

She graduated from Bluffton High School and her family lives mostly in Fort Wayne, the northeast corner and south of Michigan, so she is returning to deep roots in the area.

Gremaux said she was a great contributor. As she fits into the new role, she wants to team up with other administrators to get their input and get a real feel for where East Noble is right now and where it might go in the near future.

“I’m a great contributor and I don’t feel like this is something I’m going to bring, this is something we will all discover together,” she said. “I know a lot, but I don’t know all that is going on.”

The school board ratified their three-year contract with Gremaux 5-0 on Monday evening and banned them until June 30, 2024. Board members Jen Blackman and Dave Pine were absent.

The base salary in the new contract is $ 128,000 for 260 work days. This includes the paid leisure allowance for 20 days of vacation, 11 days of sickness and three personal days.

The base salary is slightly lower than what Linson paid on her last contract, which was $ 135,000 a year.

Other benefits in the proposed contract include health insurance, dental insurance, life insurance, long-term disability insurance, a 2% pension as all certified employees receive, an additional pension of $ 5,000, contributions to the teacher pension fund of 8.5% base salary, vehicle allowance, kilometers for journeys 200 miles for selected purposes and a mobile phone issued by the school.

These benefits are all broadly similar to those Linson received as Operations Manager, with a $ 2,000 increase in the value of the Supplementary Pension and a $ 1,200 increase in the Motor Vehicle Allowance.

The total value of these additional benefits is just under $ 33,000 per year, making a total compensation package of approximately $ 161,000 per year.

School board president Brent Durbin said the district interviewed 13 candidates and conducted four interviews in the second round before selecting Gremaux. The pool of candidates was all “very well qualified,” but the board members ultimately chose the leader of the Manchester Community.

Durbin said he hopes Gremaux will continue a trend of innovation at the school, as Linson did during her 11-year tenure.

“She has a really strong background with STEM and STEAM with her current schools,” said Durbin. “She brought innovation just like Superintendent Linson.

“I expect her to bring the same, if not more, to keep this going,” said Durbin.



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Increase your chances in an emergency | Companies https://open-mind.org/increase-your-chances-in-an-emergency-companies/ https://open-mind.org/increase-your-chances-in-an-emergency-companies/#respond Sun, 11 Jul 2021 07:00:00 +0000 https://open-mind.org/increase-your-chances-in-an-emergency-companies/ MOSCOW – Gritman Medical Center has received Level IV trauma center certification from the Idaho Time Sensitive Emergency System. The designation is given to hospitals that have an on-call trauma team consisting of a doctor and a nurse, but not surgeons. “Level IV marking means that if a trauma patient is currently in need of […]]]>


MOSCOW – Gritman Medical Center has received Level IV trauma center certification from the Idaho Time Sensitive Emergency System.

The designation is given to hospitals that have an on-call trauma team consisting of a doctor and a nurse, but not surgeons.

“Level IV marking means that if a trauma patient is currently in need of more specialized surgical care, we can stabilize that patient and refer them to another facility for treatment,” said Brad Gary, a spokesman for Gritman, in an email .

While a number of surgeons have privileges at Gritman, they are not always part of the hospital’s trauma team, which would be required for the hospital to have a higher trauma designation, Gary said.

It took Gritman about a year to get the name. The process included steps such as an on-site assessment, a review of procedures, and tracking of patient cases.

All hospitals in north central Idaho except St. Joseph Regional Medical Center in Lewiston are Level IV on the system, which has five designations.

Level V hospitals have the fewest resources to care for patients while Level I hospitals have the most, such as extensive trauma care and a partnership with a medical school.

St. Joe’s is a Level III trauma center, a designation for hospitals that provide emergency trauma care with basic operating room services.

The Idaho Time Sensitive Emergency System is overseen by a 17-member council that was formed in 2014. Six members are regional chairs from different parts of the state, and 11 members are appointed by the governor who represents hospitals and emergency services.

Staff from the Idaho Department of Health & Welfare’s Idaho Time Sensitive Emergency System program oversee the day-to-day operation of the system.

The LCSC Business Development Center offers three online courses

The North Central Idaho Small Business Development Center at Lewis-Clark State College is offering three free videos for the remainder of the month focusing on business formation, content marketing, and human resources.

The center provides free business advice, financial and marketing analysis, startup support, strategy and plan development assistance, and data and practical information for entrepreneurs and small business owners in north central Idaho.

The three videos are part of the center’s Accelerating Business Success video webinar courses. Registration is required but all videos are free.

The three highlights for this month include 17 Steps to Startup, taught by Felena Hanson. In 2011, Hanson founded Hera Hub, a work and meeting place where enterprising women can network and collaborate in a spa-inspired environment. She has since written a book that provides a step-by-step process to help a new business get off the ground.

The second video is Marketing Basics Part III and focuses on the basics of content marketing. Corissa Saint Laurent, lecturer at Portland State University and professional corporate marketing and development speaker, will discuss how a company can grow and change through different marketing concepts.

The last video featured is about Human Resources and is led by Barbara Leachman, Director of the Center, and Tommy Cano, Founder and President of Cano HR Group. You will discuss different ways of managing people.

Individuals can register for this or any other video webinar on Accelerating Business Success at bit.ly/SBDCvideos. For more information about the North Central Idaho Small Business Development Center at Lewis-Clark State College, visit www.lcsc.edu/sbdc or call (208) 792-2465.

Two Lewiston State Farm employees become agents

Taylor Forge follows in his father’s footsteps and opens an office as a State Farm Agent at 2270 Thain Grade, No. 103, in Lewiston, in a building next to the former Shopko garden center.

His father Steve Forge retired after 36 years as a State Farm agent. Taylor Forge worked as an insurance agent in his father’s office for eight years before becoming an agent.

Melody Sandahl, who was the senior blacksmith’s office manager, has also become a State Farm agent.

Sandahl is located at 1442 Idaho St. in Lewiston, the same location Steve Forge had his office.

Both offices are open Monday through Friday from 8:30 a.m. to 5:00 p.m. and sell policies for vehicles, apartments, and businesses, as well as tenants, life and disability insurance.

Licensed to sell mutual fund accounts, Sandahl can help people save for retirement or manage their retirement income.

The Tribune would like to know what is happening in your company. Send your messages to william@lmtribune.com. Please include “Biz Bits” in the subject line.



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AG files discrimination complaint against Tucson Insurance Agency after an employee was laid off for a pregnancy-related disability https://open-mind.org/ag-files-discrimination-complaint-against-tucson-insurance-agency-after-an-employee-was-laid-off-for-a-pregnancy-related-disability/ https://open-mind.org/ag-files-discrimination-complaint-against-tucson-insurance-agency-after-an-employee-was-laid-off-for-a-pregnancy-related-disability/#respond Fri, 09 Jul 2021 23:31:56 +0000 https://open-mind.org/ag-files-discrimination-complaint-against-tucson-insurance-agency-after-an-employee-was-laid-off-for-a-pregnancy-related-disability/ TUCSON (KVOA) – Attorney General Mark Brnovich has filed a workplace discrimination complaint against an insurance agency in Tucson after an employee was reportedly fired for a pregnancy-related disability. According to the attorney general’s office, an employee filed a lawsuit against JD Mellberg Financial on June 22. The office said the Tucson-based agency is a […]]]>


TUCSON (KVOA) – Attorney General Mark Brnovich has filed a workplace discrimination complaint against an insurance agency in Tucson after an employee was reportedly fired for a pregnancy-related disability.

According to the attorney general’s office, an employee filed a lawsuit against JD Mellberg Financial on June 22. The office said the Tucson-based agency is a licensed national insurance agency selling life insurance and annuity products.

The attorney general reported that the worker had a pregnancy-related disability and alleged that JDMF discriminated against her in violation of the Arizona Civil Rights Act when the employer allegedly forced the worker to start an unpaid medical vacation instead of allowing her to be on a remote Format to work.

In addition, the employee said she was further discriminated against by JDMF when the company allegedly terminated her health insurance and terminated her employment after engaging in safe conduct as defined by the ACRA.

Officials say the worker had placenta previa, a pregnancy-related disability that significantly limits mobility and activity while she is in paid work. The attorney general said the employee had several notes from her doctor detailing her diagnosis, but the employer refused to place her.

“Arizona law prohibits an employer from discriminating against a person on the basis of disability,” Brnovich said. “Our office prides itself on not only enforcing the law, but is proud to have worked with lawmakers earlier this year to improve civil rights protection for pregnant women in the workplace.”

Brnovich’s lawsuit alleges that JDMF violated ACRA by failing to provide the worker with reasonable accommodation for her disability, thereby discriminating against her.

EDITORS NOTE: This story was written by Brendan Jacques.



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Life changing technology for people with disabilities | Information age https://open-mind.org/life-changing-technology-for-people-with-disabilities-information-age/ https://open-mind.org/life-changing-technology-for-people-with-disabilities-information-age/#respond Thu, 08 Jul 2021 01:40:39 +0000 https://open-mind.org/life-changing-technology-for-people-with-disabilities-information-age/ The NeuroNode device uses electromyography to measure small movements. Image: control bionics For the past 18 months, clinician Kayla Douthie has experienced firsthand how advances in technology can improve the lives of people with disabilities. Dothie specializes in complex communications at Rocky Bay Perth Disability Service and has had great success with mind-reading technologies. Some […]]]>


The NeuroNode device uses electromyography to measure small movements. Image: control bionics

For the past 18 months, clinician Kayla Douthie has experienced firsthand how advances in technology can improve the lives of people with disabilities.

Dothie specializes in complex communications at Rocky Bay Perth Disability Service and has had great success with mind-reading technologies.

Some of their clients have started using the NeuroNode: a device that is usually worn on the wrist that detects and interprets slight muscle movements and allows clients to connect to a computer.

“The independence this technology can give people is great,” said Dothie Information age.

“This means that they can possibly write emails, use Facebook, have private conversations or turn on the television without the help of the support agent.

“A customer with a NeuroNode has a progressive disease and loves how much the device helped them get back to some of the things they once could do.

“He used to be part of a language club where they met and practiced speaking – now he can fall back on it.”

NeuroNode measures tiny muscle movements using electromyography (EMG) – the same technology used by Facebook’s own startup CTRL-Labs for its mind-reading wristbands.

For Facebook, the same concept that drives life-changing technologies for people with disabilities will shape its augmented and virtual reality efforts by giving users the ability to interact with virtual spaces without sticking to a controller like in current virtual reality need systems.

This could mean that connecting to devices like smart glasses requires gesture control that is barely noticeable to external observers, while offering the same functionality as a keyboard and mouse.

Apple recently introduced similar technology in an Apple Watch update that now enables gesture control.

It’s called Assistive Touch and enables direct interaction with the small screen of the Apple Watch using small hand gestures.

Rather than relying on EMG, Assistive Touch uses the device’s gyroscope, accelerometer, and heart rate sensor to detect squeezing and entrapment of the user.

Combined with a cursor that is controlled by rotating your wrist, Assistive Touch allows you to access most of the functions of the Apple Watch screen with just one hand.

Some have speculated that the feature will be incorporated into the long awaited Apple Glasses.

The future of disability assistance

The inclusion of EMG and gesture control in consumer technology signals a shrinking of the technological divide that people with disabilities face.

Devices like NeuroNode can be covered by the National Disability Insurance Scheme (NDIS), which means Australians have direct access to computers and communications technology without necessarily having to pay out of pocket.

“We successfully got NDIS approval, but it’s not just the device you need money for,” said Douthie.

“It takes qualified therapists to deploy and train clients, which means more NDIS funding for therapy sessions.

“The NDIS is a large system so it is important that we have people who are experienced in building these applications and what the NDIS wants to know about why this type of equipment is needed.

“It’s really great to see how technology develops and how much it helps people.”

Douthie said she was excited to see how technology advances and will support people with disabilities.

One of the best-known proponents of this technology is Elon Musk, whose company Neuralink is looking for ways to implant computer chips in people’s brains so that they can control a smartphone.

Neuralink goes a step beyond EMG by measuring electrical signals long before they reach the muscles, potentially enabling the next level of gesture control.

Neuralink has already shown its animal testing stages by posting a video in which a monkey plays the computer game pong using only its mind.

And an article in Nature earlier this year suggested that brain-computer interfaces like Neuralink might one day allow typing at the speed of thought, completely eliminating the need for traditional keyboards.



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